TAX PREPARATION AND ACCOUNTING SERVICES

  • Confidential Tax Consultation

  • Alternative Tax Scenarios

  • Small Business Start Up Planning and Registration

BY APPOINTMENT ONLY cALL 925-954-4441

Tax Preparer serving Antioch CA | Concord CA | Brentwood CA | Oakley CA | Pittsburg CA

Our tax preparation clients are individuals and small businesses who seek a conservative tax preparer with experience in structuring legal tax strategies to reduce their tax burden.  As part of our preparation process, we strive to understand your specific scenarios during the tax year to generated all the available deductions, resulting in a larger tax refund. We also have practical solutions to handle your complicated tax problems. Below are just a few examples of the types of tax challenges our clients have: 

1. We bought an investment property and need to know what to deduct? Generally, an investment property is treated much like a business. As such, real estate taxes, depreciation, maintenance, utilities, lawn care, repairs, capital improvements, legal fees, HOA fees, travel, mileage, contractor expense, and other fees are deductible. However, some of these cost will need to be capitalized. As such, always seek professional help to ensure if you can deduct all of the expense in the year incurred or to have the expense allocated to future years (e.g., depreciation and capital improvements). 

2. We have a small business and need guidance of the affordable care act? The affordable care act is a great investment but take caution on qualifying for a credit which may have to be paid in the future. If you received a premium tax credit, consider having this reviewed by us to ensure how to proceed with taking advantage of the credit. 

3. We are going to hire an employee and need to understand the basics of payroll? Payroll has many intricacies to it. As such, call us for a free consultation to discuss the procedures to set up payroll with QuickBooks. 

We find that small businesses face key challenges in the first year of operations. These common mistakes made by small businesses led us to draft a webpage titled "Common Tax and Accounting Mistakes for Small Business Owners" dedicated to entrepreneurs who are debating, thinking, and taking key steps to developing and building their business ventures. 

Our self employed (1099) and small business tax clients are always in the market searching for additional tax deductions. As such, we wrote a one pager on commonly missed business deductions. Click on the link to access the web page.

We are located near downtown Concord CA. Our offices are available by appointment only. Call us at 925-954-4441 

Streamlined Filing Compliance Procedures

Do you receive rental income, dividends, or interest income overseas that you have not reported? For eligible U.S. taxpayers who have not reported their income overseas, you may be able to qualify for the streamlined filing procedures. The only penalty will be a miscellaneous offshore penalty equal to five percent of the foreign financial assets that gave rise to the tax compliance issue. For more information, schedule a consultation to discuss your specific situation. 

Delinquent FBAR Submission Procedures

Taxpayers who have not filed a required FBAR and are not under a civil examination or a criminal investigation by the IRS, and have not already been contacted by the IRS about a delinquent FBAR, should file any delinquent FBARs according to the FBAR instructions and include a statement explaining why the filing is late. All FBARs are required to be filed electronically through FinCEN’s BSA E-Filing System. Select a reason for filing late on the cover page of the electronic form or enter a customized explanation using the ‘Other’ option. If unable to file electronically you may contact FinCEN’s Regulatory Helpline at 800-949-2732 or 703-905-3975 (if calling from outside the United States) to determine acceptable alternatives to electronic filing.

The IRS will not impose a penalty for the failure to file the delinquent FBARs if income from the foreign financial accounts reported on the delinquent FBARs is properly reported and taxes are paid on your U.S. tax return, and you have not previously been contacted regarding an income tax examination or a request for delinquent returns for the years for which the delinquent FBARs are submitted.